Given: Opening cash balance ₦20,000 Sales of match tickets ₦15,000 Clearing of pitch ₦1,200 Refreshments ₦3,500 Referees' allowance ₦1,000 Cost of petrol ₦1...
Question 1 Report
Given:
Opening cash balance ₦20,000
Sales of match tickets ₦15,000
Clearing of pitch ₦1,200
Refreshments ₦3,500
Referees' allowance ₦1,000
Cost of petrol ₦1,120
Donation from local government ₦3,800 The club's balance is?
Answer Details
To calculate the club's balance, we need to add up the income and subtract the expenses.
Starting with the income:
- Sales of match tickets: ₦15,000
- Donation from local government: ₦3,800
Total income = ₦18,800
Now, let's move on to the expenses:
- Clearing of pitch: ₦1,200
- Refreshments: ₦3,500
- Referees' allowance: ₦1,000
- Cost of petrol: ₦1,120
Total expenses = ₦6,820
To calculate the final balance, we subtract the total expenses from the total income:
Final balance = Total income - Total expenses
Final balance = ₦18,800 - ₦6,820
Final balance = ₦11,980
However, we also need to add the opening cash balance of ₦20,000 to the final balance:
Final balance + Opening cash balance = ₦11,980 + ₦20,000
Final balance = ₦31,980
Therefore, the club's balance is ₦31,980.
Download The App On Google Playstore
Everything you need to excel in your exams
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning